GE to Proceed With Manufacturing Site at Brazilian Port Development

Company to Press on With Facility Despite Tycoon's Sale of Most of His Stock in Project Leader

By

Jeffrey T. Lewis

Dec. 5, 2013 3:37 p.m. ET

SÃO PAULO—General Electric Co. plans to continue with its project to build a manufacturing operation at the Açu Superport being completed near Rio de Janeiro, according to Reinaldo Garcia, president and chief executive of General Electric Latin America.

The port is being built by LLX Logistica, which was formerly controlled by Brazilian tycoon Eike Batista. Mr. Batista was forced to sell most of his stake in LLX to Washington,...